Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2016

Property Tax Annotations

535.0000 LAND USE RESTRICTIONS

Annotation 535.0018

535.0018 Federal Housing Projects. Rental limitations and other limitations and restrictions imposed upon owners of HUD 236 projects constitute land use restrictions within the meaning of Revenue and Taxation Code section 402.1. Such properties should be valued as provided in Property Tax Rule 4 if reliable market data, i.e., sales of similarly restricted properties, is available, otherwise as provided in Property Tax Rule 8. In either situation, non-cash consideration accruing to the seller's benefit must be converted to its equivalent cash value pursuant to the methodologies provided in the respective rules. C 2/14/1992.

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